News

More Huge Gains For Crude Despite Potential Virus Treatments Meeting Bureaucratic Resistance
by Ship Bunker
Friday, April 03, 2020

Meanwhile, Royal Dutch Shell prepares for a new energy industry landscape.

India’s Crude Oil Imports in the First Quarter of 2020 Make for An Interesting Reading
by hellenicshippingnews..
Friday, April 03, 2020
As the first data regarding crude oil in 2020 emerges, owners are looking for clues as to the future of demand, although much of it will become redundant as a result of the pandemic crisis and the global recession that’s bound to follow. In its latest weekly report, shipbroker Banchero Costa said that “the COVID-19 ...

Q1 saw record low bunker spread and scrubber premium sliding
by hellenicshippingnews..
Friday, April 03, 2020
Bunker prices have had quite a ride over the first quarter of the IMO 2020 implementation and alongside them the premium for scrubber-fitted bulk carriers. Crude oil and bunker prices literally collapsed over the last weeks as a result of the Saudi Arabia-Russia oil supply war. Added to that, supply logistics for the compliant fuel ...

Are the darkest days over – for Panamax freight at least?
by hellenicshippingnews..
Friday, April 03, 2020
If ever there was a leading indicator to the commodity index this year, it is the Panamax freight market. Already coming under heavy pressure in the last quarter of 2019 these mid-sized workhorses of the dry bulk market started 2020 on the same bearish footing; this before COVID-19 had reared its unwelcome head. Nothing really ...

CMA CGM Containership Reroutes Around Cape of Good Hope, Bypassing Suez Canal
by Mike Schuler
Friday, April 03, 2020
An ultra-large containership belonging to CMA CGM is bypassing the Suez Canal on its return trip to Asia, adding some 3,000 miles and five days to the journey as impacts of coronavirus and low oil prices ripple across the supply chains. The 16,022 TEU capacity CMA CGM Alexander Von Humbolt last called in Algeciras, Spain […]

Venezuelan Navy Ship Sinks After Collision with Expedition Cruise Ship
by Mike Schuler
Friday, April 03, 2020
A Venezuelan Navy ship has sunk after colliding with the ice-strengthened hull of an expedition cruise ship earlier this week.  The incident took place March 30, 2020 in international waters off the island of La Tortuga.  Both sides are now blaming each other for the accident.  Columbia Cruise Services says its expedition vessel RCGS Resolute […]

U.S. Navy Probe to Decide Future of Fired Commander
by Reuters
Friday, April 03, 2020
By Idrees Ali and Phil Stewart WASHINGTON, April 3 (Reuters) – Even as he is hailed as a hero by his crew, the fired commander of a coronavirus-stricken U.S. aircraft carrier is being reassigned while investigators consider whether he should face disciplinary action, acting U.S. Navy Secretary Thomas Modly told Reuters on Friday. Captain Brett Crozier was […]

Port of Singapore Remains Open For Business: MPA
by Ship Bunker
Friday, April 03, 2020

Singapore's Ministry of Health announced tougher measures aimed at controlling the spread of COVID-19 on Friday.

Industry Body Sees European Shipping at 'Breaking Point'
by Ship Bunker
Friday, April 03, 2020

"Tthis unprecedented crisis requires unprecedented reactions," the organisation said in a statement on its website.

Two Holland America Cruise Ships Dock in Florida
by Reuters
Friday, April 03, 2020
MIAMI, April 2 (Reuters) – An ocean liner forced by a deadly onboard coronavirus outbreak to languish at sea since mid-March pulled into a South Florida port on Thursday, after authorities settled plans for the vessel and its sister ship to dock and most passengers to come ashore. The Holland America Line cruise ship MS Zaandam and its […]

Natural Gas Glut Moves Offshore
by Bloomberg
Friday, April 03, 2020
By Anna Shiryaevskaya and Naureen S. Malik (Bloomberg) — Liquefied natural gas traders are following the latest trend in the oil market by storing huge amounts of the commodity on tankers, hoping prices will rise before the ship docks. But while crude can sit for months or even years in a tank, super-chilled LNG tends to […]

Dismissed U.S. Navy Captain Gets Hero’s Ovation from Crew
by Reuters
Friday, April 03, 2020
WASHINGTON, April 3 (Reuters) – The captain of a U.S. aircraft carrier relieved of his command after seeking stronger measures in response to a coronavirus outbreak aboard his ship was given a hero’s ovation by his crew when he left the vessel, video posted on Twitter showed. A brief clip showed Captain Brett Crozier walking […]

OPEC+ Group Plans Extraordinary Meeting Next Week After Crude Collapse
by Ship Bunker
Friday, April 03, 2020

Crude prices have risen sharply since the end of March on renewed hopes of a reconciliation within OPEC+.

Wallenius Wilhelmsen Announces Plans to Mitigate Pandemic Disruption
by Ship Bunker
Friday, April 03, 2020

The company has cut spending by $20 million with the cancellation of four scrubber installations.

Scorpio Tankers Warns Scrubber Benefits May Not Be Realised
by Ship Bunker
Friday, April 03, 2020

Scorpio has paid about $2.5 million per vessel for its scrubbers.

IMO Secretary-General Calls for “Key Worker” Designation for Seafarers
by Mike Schuler
Thursday, April 02, 2020
IMO Secretary-General Kitack Lim urged the United Nations to request governments to declare seafarers, port personnel and other crucial maritime workers as “key personnel” amid the coronavirus pandemic.  Mr. Lim made the plea during a video meeting on Thursday with other UN chiefs and the UN Secretary-General to discuss the impacts of COVID-19 crisis.  During the […]

U.S. Navy Relieves Commander of USS Theodore Roosevelt After Letter Leak
by Reuters
Thursday, April 02, 2020
By Idrees Ali and Phil Stewart WASHINGTON, April 2 (Reuters) – The U.S. Navy on Thursday relieved the commander of the aircraft carrier Theodore Roosevelt, who wrote a scathing letter that leaked to the public asking the Navy for stronger measures to control a coronavirus outbreak onboard the ship. The removal of Captain Brett Crozier from the command of […]

Oil Prices Achieve Historic One Day Recovery, While Surgeon General Says Washington, California, Italy Has "Flattened The Curve"
by Ship Bunker
Thursday, April 02, 2020

Meanwhile, "game changing" virus treatment yields promising results.

Oil Prices Achieve Historic One Day Recovery, While Surgeon General Says Washington, California, Italy Have "Flattened The Curve"
by Ship Bunker
Thursday, April 02, 2020

Meanwhile, "game changing" virus treatment yields promising results.

Shipping Recovery to Take a Back Seat for the Time Being
by hellenicshippingnews..
Thursday, April 02, 2020
The impact of the pandemic’s expansion around the world and its financial implications are about to put a halt to the shipping industry’s three-year recovery process. In its latest weekly report, shipbroker Allied Shipbroking said that “at this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across ...

Shipping industry responding to the COVID-19 pandemic – Keeping the lights on with a response strategy plan
by hellenicshippingnews..
Thursday, April 02, 2020
The COVID-19 outbreak has been causing a huge impact on people’s lives, families and communities. As the international response continues to develop, organisations are operating in uncharted waters. Critical information on the characteristics of this new virus and its impacts on the global business activity are difficult to assess and are changing overnight. In these ...

Forces combine to bring hull efficiency into the spotlight
by hellenicshippingnews..
Thursday, April 02, 2020
The coming decade for the shipping industry promises to be a momentous one, with change and challenges expected on a scale not seen in living memory. The scale and rate of advancement across our sector over the next few years is set to heighten the importance of innovation, collaboration and operational efficiencies, as owners and ...

IMO 2020 Premium Evaporates, Price Paid for Bunkers in March 20% Lower than in 2019
by Ship Bunker
Thursday, April 02, 2020

Average VLSFO price for Global Top 20 Ports was $351.50/mt in March 2020, vs the March 2019 average IFO380 price of $425/mt.

Oil Posts Biggest Single-Day Gain After Trump Touts Saudi-Russia Oil Deal
by Reuters
Thursday, April 02, 2020
By Scott DiSavino NEW YORK, April 2 (Reuters) – Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with […]

CMA CGM Marco Polo Cleared of COVID-19
by Mike Schuler
Thursday, April 02, 2020
French shipping giant CMA CGM has confirmed that health officials have cleared CMA CGM Marco Polo crew members of COVID-19 after a crew member fell ill after sailing from Southampton. Tests were conducted after the ship docked in Algeciras, Spain earlier this week with one crew member experiencing flu-like symptoms consistent with the coronavirus. “There […]

Weekly Vessel Scrapping Report: 2020 Week 13
by Ship Bunker
Thursday, April 02, 2020

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue's demolition sales from March 26 – April 1, 2020.

EU Antitrust Regulators Halt Hyundai, Daewoo Deal Probe
by Reuters
Thursday, April 02, 2020
BRUSSELS, April 2 (Reuters) – EU antitrust regulators have halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries’ $1.8 billion merger with Daewoo while waiting for the companies to provide information. The European Commission said it stopped the clock on Wednesday. “Once the missing information is supplied by the parties, the clock […]

ABS Group Expands Remote Capabilities for Process Safety Management
by gCaptain
Thursday, April 02, 2020
Press Release – ABS Group of Companies, Inc. (ABS Group) is expanding its remote process safety management (PSM) capabilities for facility owners to help the Oil, Gas and Chemicalindustries maintain effective and efficient safety management for critical assets and operations. The development comes days after American Bureau of Shipping (ABS), ABS Group’s parent organization, expanded its remote […]

Florida Agrees to Let Holland America Cruise Ships Dock
by Reuters
Thursday, April 02, 2020
WASHINGTON, April 2 – A deal has been reached to allow two Holland America Line ships to dock in Florida and most of the 2,500 passengers on board to disembark, including foreign nationals, NBC News reported on Thursday, citing unnamed sources. The agreement would allow the cruise line’s Rotterdam and Zaandam ships to dock at the Port […]

Oil Rebounds on China’s Crude Buying and Trump’s Diplomatic Push
by Bloomberg
Thursday, April 02, 2020
By Sharon Cho and Alex Longley (Bloomberg) — Oil surged in London as China planned to start buying up cheap crude for its strategic reserves, while the U.S. president said he thought Saudi Arabia and Russia would resolve their differences to ease the price war. Brent futures rose as much as 13% as Beijing instructed government agencies to […]